The PNC Financial Services Group (NYSE:PNC – Get Free Report) was downgraded by Odeon Capital Group from a “buy” rating to a “hold” rating in a research note issued on Friday, FinViz reports.
A number of other brokerages have also weighed in on PNC. Keefe, Bruyette & Woods decreased their target price on The PNC Financial Services Group from $125.00 to $120.00 and set an “underperform” rating for the company in a research report on Monday, April 17th. 888 reissued a “reiterates” rating on shares of The PNC Financial Services Group in a research report on Monday, June 26th. Wells Fargo & Company decreased their target price on The PNC Financial Services Group from $186.00 to $176.00 in a research report on Wednesday. Morgan Stanley boosted their target price on The PNC Financial Services Group from $137.00 to $144.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Citigroup reduced their price target on shares of The PNC Financial Services Group from $150.00 to $145.00 in a research report on Thursday, June 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $161.65.
The PNC Financial Services Group Stock Up 0.3 %
The PNC Financial Services Group stock traded up $0.37 during mid-day trading on Friday, reaching $134.36. The stock had a trading volume of 2,619,481 shares, compared to its average volume of 3,384,955. The company has a market capitalization of $53.62 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 1.15 and a beta of 1.13. The company has a 50-day moving average price of $124.14 and a two-hundred day moving average price of $135.87. The PNC Financial Services Group has a one year low of $110.31 and a one year high of $176.34. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.80 and a quick ratio of 0.80.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $3.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.05. The PNC Financial Services Group had a net margin of 23.95% and a return on equity of 13.41%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the business posted $3.42 EPS. The PNC Financial Services Group’s revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group will post 13.65 EPS for the current fiscal year.
Insider Activity at The PNC Financial Services Group
In other The PNC Financial Services Group news, Director Bryan Scott Salesky purchased 400 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average cost of $127.10 per share, for a total transaction of $50,840.00. Following the purchase, the director now directly owns 410 shares of the company’s stock, valued at approximately $52,111. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL boosted its position in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after acquiring an additional 89 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of The PNC Financial Services Group by 12.0% during the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after acquiring an additional 1,724 shares during the last quarter. Covestor Ltd boosted its position in shares of The PNC Financial Services Group by 68.8% during the 1st quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 137 shares during the last quarter. West Family Investments Inc. raised its holdings in The PNC Financial Services Group by 9.1% during the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock valued at $215,000 after buying an additional 97 shares during the period. Finally, Ergoteles LLC raised its holdings in The PNC Financial Services Group by 137.9% during the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after buying an additional 12,201 shares during the period. 79.27% of the stock is currently owned by institutional investors.
The PNC Financial Services Group Company Profile
(Get Free Report)
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
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